Savings, Certificates of Deposits and Money Markets
You know saving money is vital to your long-term financial success. Cornhusker Bank wants to empower you to save as aggressively as possible. Our experts will offer convenient ways for you to put money away for your life goals. And, to make life even easier, you can receive e-Statements with each of these savings accounts. Whether you are in college, just starting a career, or want to teach your children the value of saving money, Cornhusker Bank has a savings account for you. Compare the accounts below to see which is best for you, and if you need help choosing the right account, call or stop in to speak to one of our banking experts.
Savings
|
Savings Accounts
|
Regular Savings
Open Now
|
Goal Setter Savings
|
Youth Savings
|
Money Market Savings
|
|---|
|
Features
|
A basic account for anyone wanting to keep saving simple.
|
Offers automatic transfers for those wanting to meet their savings goals without thinking about it. |
Provides hands on learning opportunities to develop savings skills for your kids under 17. |
Maximizes returns with aggressive rates and anytime access. |
|
Minimum initial deposit
|
$100
|
$1
|
$25
|
$1000
|
|
Free e-Statement option
|
Yes
|
Yes
|
Yes
|
Yes
|
|
Interest
|
Yes; interest rate varies. Interest earned on all balances will be credited and compounded quarterly. |
Yes; interest rate varies. Interest earned on all balances will be credited and compounded quarterly. |
Yes; interest rate varies. Interest earned on all balances will be credited and compounded quarterly. |
Yes; interest rates are tiered by balance. Interest earned on all balances will be credited and compounded monthly. Interest rate may vary. |
|
Withdrawals Allowed
|
Limit of 9 debits per quarterly statement cycle. $0.30 for each additional debit in excess of 9 per quarterly statement cycle.
|
Limit of 9 debits per quarterly statement cycle. $0.30 for each additional debit in excess of 9 per quarterly statement cycle.
|
No charges for debits.
|
Six debits per month. $2 for each
additional.
|
|
Free ATM transactions
at
ATMs
|
Yes2
|
Yes2
|
Yes1, 2
|
Not Available
|
|
Service Charge/ Maintenance Fee
|
$6 service charge will be imposed if the average daily balance for the quarterly statement cycle falls below $100. |
$4 service charge will be assessed every quarter if an automatic transfer from a Cornhusker Bank checking account is not completed during the quarterly statement cycle. |
None |
$5 monthly service charge will be assessed if the average daily balance is less than $1,000 during the statement cycle. |
|
|
|
|
|
|
Check Current Rates
Tap Into the Power of Automatic Savings
Whatever you’re saving for, automatic saving is one of the simplest, most effective tools for making savings goals a reality.
How It Works
An automatic savings plan is typically carried out one of two ways: either the saver’s employer deducts a certain amount from each paycheck that’s then deposited into a savings account, or his or her financial institution transfers a set amount from the saver’s checking account into a savings account on a routine basis. Both options help keep savings goals on track.
Why It Works
There are countless incentives for enrolling in an automatic savings plan. Four common reasons include:
- Simple saving—Automatic savings plans are easy and require little effort to maintain. Many people will not stick with a financial plan if it’s too complex or difficult to achieve. The key to sustaining a savings goal is to make it as uncomplicated as possible.
- Easy growth—Once savers become accustomed to saving automatically, they often don’t notice the small sum leaving their paychecks or checking account. In time, automatic savers reap the rewards for their discipline. Putting aside only $50 a month, for example, adds up to $600 a year—or $3,000 after 5 years—that wasn’t saved before.
- Time management—As the old saying goes, “time is money”—and an automatic savings plan conserves both. Much like auto-paying utility bills, for example, automatic savings plans remove the work from transferring money each pay period. It also helps prevent savers from spending money on an impulse buy instead of putting it toward their longer-term financial goals.
- Proven results—People have been enjoying the success of automatic savings since the 1970s when these plans were first introduced.
There’s nothing to lose with automatic savings—but much to gain!
Are you ready to start saving for your goals? Learn more about our automatic savings program.
1Account holder must be 14 years of age. NUTMA accounts are not eligible.
2Cornhusker Bank will charge a foreign ATM fee if you do not use a Cornhusker Bank or MoneyPass ATM. Some MoneyPass limitations may apply in Nebraska. Other financial institutions may also charge you a fee for using their ATM if they are not part of the MoneyPass network.
|
|
CDs
|
Certificates of Deposit are savings products having a fixed term to maturity and a fixed rate, making it easy for you to forecast savings income.
Standard Certificates of Deposit
Who says there are no assurances in life? With a Certificate of Deposit, you’ll receive a pre-determined interest rate on your investment. You choose the specific length of time at a set rate of yield that works best for you and your goals.
Check Current Rates
IntraFi® Network DepositsSM
With IntraFi Network Deposits (formerly known as ICS® and CDARS®), you can access multi-million-dollar FDIC protection by working directly with just our bank.
- Rest assured—Know that deposits well into the millions are eligible for FDIC insurance protection. Because deposit accounts are not subject to floating net asset values, market volatility will not negatively impact principal.
- Earn interest—Put cash balances to work in demand deposit accounts, money market deposit accounts, or CDs.
- Keep it simple—Avoid opening multiple accounts with multiple institutions to protect your funds. Forego the need to use repo sweeps, track collateral on an ongoing basis, and manually consolidate statements and disbursements from multiple banks.1
- Manage liquidity—Enjoy access to funds placed into demand deposit accounts and money market deposit accounts. With CD placements, select from multiple terms to meet your liquidity needs.
- Support your community—Feel good knowing that the full amount of funds placed through IntraFi Network Deposits can stay local to support lending opportunities that build a stronger community.2
Contact Us To Learn More
1If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor’s funds through IntraFi Network Deposits, or a particular IntraFi Network Deposits transaction, satisfies those restrictions.
2When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use IntraFi Network Deposits, our bank can use the full amount of a deposit placed through IntraFi Network Deposits for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.
Placement of funds through IntraFi Network Deposits is subject to the terms, conditions, and disclosures in the program agreements, including the Deposit Placement Agreement (“DPA”). Limits apply, and customer eligibility criteria may apply. Program withdrawals may be limited to six per month for funds placed in MMDAs. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before settlement for a deposit or after settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. Network Deposits is a service mark, and IntraFi, ICS, and CDARS are registered service marks, of IntraFi Network LLC.
|
|
IRAs
|
An IRA is an account which allows you to save for retirement. There are two main types of IRAs- Traditional and Roth- each with different advantages. Cornhusker Bank offers IRA Certificates of Deposit and IRA savings accounts. All you need to do is select the best fitting type of account for your retirement planning strategy.*
What is the difference between a Traditional IRA and a Roth IRA?
Roth IRAs and Traditional IRAs have a lot in common, but differ on some key points. Your age and income are key factors on which IRA is best for you.
| |
Roth IRA | Traditional IRA |
| Age Limit |
No age limits to contribute. |
No age limits to contribute. |
| Income Limits |
Amount you can contribute:
- Cannot exceed amount of yearly income; household income if married and filing jointly
- Cannot exceed IRS limits
- Can be reduced or eliminated based on you modified adjusted gross income |
Amount you can contribute:
- Cannot exceed amount of yearly income household income if married and filing jointly
- Cannot exceed IRS limits |
| Can minors** or nonworking spouses contribute? |
Cornhusker bank does not offer youth IRAs.
Nonworking spouses can contribution subject to household income restrictions. |
Cornhusker bank does not offer youth IRAs.
Nonworking spouses can contribution subject to household income restrictions. |
| Are there contribution limits? |
- If you are under 50 you can contribute up to $6,000
- If you are over 50, you can contribute $7,000 |
- If you are under 50 you can contribute up to $6,000
- If you are over 50, you can contribute $7,000 |
| Can you claim contributions as a tax deduction?* |
No. Tax credits available under certain circumstances.* |
You may be able to claim all or part of your contributions.* |
| Are taxes paid on withdrawals? |
You will not pay taxes on withdrawals after the age of 59 ½ and you’ve met the 5 year holding period. |
You will pay income taxes on all distributions from a traditional IRA. |
| Is there a penalty on withdrawals taken before you turn 59½? |
No penalties on withdrawals on contributions, but there is a 10% federal tax on withdrawal of earnings. There is a 10% penalty tax on all withdrawals before the age of 59 ½ and before the 5 year holding period is met. Exemptions available for specific situations and uses. |
There is a 10% penalty tax on all withdrawals before the age of 59 ½. Exemptions available for specific situations and uses. |
| Are there any required minimum distributions? |
No |
You have to take the first RMD by the tax filing deadline of the year following the year you reach age 72. Every year after that you have to take the RMD by December 31. |
Find out about investment choices available at Cornhusker Bank by visiting www.cornhuskerbank.com/Wealth-Management-Financial-Services.
*Consult a tax advisor for specific details and requirements.
**Cornhusker Bank does not open minor IRAs.
Check Current Rates
|
|
|
Stay Connected With Us